Rabobank covered trade signals spread retracement

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By David Freitas
24 Jun 2020

Coöperatieve Rabobank launched a 10 year covered bond at a spread of 7bp over mid-swaps this week, leaving a small new issue concession for investors. The deal also underlined the recent recovery of credit spreads amid the coronavirus pandemic.

Lead managers BNP ParibasCitiCredit SuisseDeutsche Bank and Rabobank went out with price thoughts in the 10bp area over mid-swaps on Wednesday.

They were marketing a benchmark sized 10 year covered bond for Coöperatieve Rabobank, guaranteed by Rabo Covered Bond Company and backed by Dutch residential mortgages.

They were using ...

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